Real Estate Consultant Independent Contractor Agreement by pou19125


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									                         Telephone (416) 410-1315 Fax (416) 410-1315

                    Independent Contractor Agreement

This agreement dated as of the _________ day of ______________, 20___.

                     C.M.B. Canada Mortgage Brokers Inc.
                  Hereinafter called the (“Broker” or “Company”)

A company formed under the Companies Act of the province of Ontario, and
having it’s head office at 20 – 365 Healey Road Bolton, Ontario L7E 5C1


    _________________________________________________________ ,
     Hereinafter called the (“Mortgage Specialist” or “Mortgage Consultant”)

Residing at __________________________________ .


Tel.________________       Fax._______________ e-mail._______________

1. Recitals:

1.1 The company is duly registered as a mortgage broker pursuant to the
Mortgage Brokers Act of Ontario, Canada (the “Act”) and owns, for the purpose
thereof, all facilities and equipment required to conduct a mortgage brokerage

1.2 The Mortgage Specialist is an independent contractor desiring access to
such facilities and equipment for the purpose of conducting therefrom a mortgage
brokerage business.

1.3 This agreement is not intended to create any relationship between the
Mortgage Specialist and the Company except that of two independent
contracting parties relating to provision of the services of the Mortgage Specialist
on the terms set out.
2. Witnesses:

2.1 In consideration of the sum of TWO ($2.00) Dollars, and other good and
valuable consideration (the receipt and sufficiency of which are hereby
acknowledged by each of the parties hereto), the parties hereby agree each with
the other of them as follows:

3. Qualifications

3.1 The Mortgage Specialist represents and warrants that they are duly
registered as a Mortgage Broker or Mortgage Broker Agent or having met the
requirements to transact mortgages in the province of Ontario, and pursuant to
and as defined in the Act. The Mortgage Specialist agrees to abide by all
requirements established by the Act from time to time governing the conduct of
mortgage brokers. The Mortgage Specialist agrees to increase their knowledge
of the mortgage business in order to maintain a high level of competence. The
Mortgage Specialist agrees to abide by the Code of Ethics and Standards of
Business Practice established by the Canadian Institute of Mortgage Brokers and
Lenders and the Independent Mortgage Brokers Association and further agrees
to be a member in good standing of any/all Provincial Mortgage Associations that
the Company belongs.

3.2 The Mortgage Specialist shall devote such portions of his or her time and
energy as Mortgage Specialist deems appropriate to the furtherance of the
Mortgage Specialist’s business. Such business shall be conducted subject to all
laws applicable to the business.

4. Duties and Responsibilities of Consultants

 4.1 For the purposes of the mortgage applications, the Mortgage Specialist
 agrees to use the CMB Worksheet, CMB Introduction referred to in Schedule 2
 and 3 attached or such other forms provided by the Broker including mortgage
 documents on the mortgage software. Consultants agree to complete the CMB
 Worksheet, CMB Introduction forms on behalf of the Mortgage Applicant and to
 submit such worksheet to the lenders via the approved mortgage software,
 lender websites, e-mail or by fax. The Mortgage Specialist shall ensure that the
 CMB Worksheet, CMB Introduction forms or mortgage applications are signed
 by all Mortgage Applicants.

 4.2 If the mortgage application is approved, the Mortgage Specialist will send
 directly to each Mortgage Applicant, to the address in the Mortgage Applicant’s
 Application, a commitment letter confirming the amount and conditions of the
 Mortgage and any documentation or certificate that the lender wishes to
 provide relating to the Mortgage. If the Mortgage is not approved, the Mortgage
 Consultant will contact the Mortgage Applicant directly to advise him or her that
 the Mortgage has been declined.
4.3 The Mortgage Specialist represents, warrants and covenants that entering into
   and performance of this Agreement by the Mortgage Specialist shall not
   contravene, breach or infringe any Laws, including but not limited to, Mortgage
   Broker legislation, any contract, fiduciary obligations, or rights of other persons
   (including without limitation any confidentiality, moral, or intellectual property
   rights of any nature whatsoever).

 5. Company Obligations

 5.1 The Company agrees to provide the Mortgage Specialist with 24 – hour
 telephone answering and such other facilities and services which may be made
 available by the Company from time to time in its sole discretion.

 5.2 The Company agrees to assist the Mortgage Specialist by exerting
 reasonable commercial efforts to establish a strong brand name as well as by
 providing advice, coaching, training and support reasonably considered by the
 Company in its sole discretion to be necessary to permit the Mortgage Specialist
 to be a productive mortgage broker.

 5.3 The Company agrees to exert reasonable commercial efforts to create
 beneficial business generation opportunities and relationships with lenders, real
 estate brokers and strategic partners of which the Mortgage Specialist may avail
 himself or herself.

 6. Commissions

 6.1 In all cases, commissions calculated in accordance with the schedule set
 forth in Appendix 1 hereto will become due and payable to the Mortgage
 Specialist only if, as and when they are received by the Company and that all
 files are properly documented as requested by the Financial Services
 Commission of Ontario, or to Company standards and is determined at its sole
 discretion. If a commission is not received by the Company, the Company is not
 liable to the Mortgage Specialist for payment of the Mortgage Specialist’s portion
 of such commission. The Mortgage Specialist is and remains responsible for the
 timely follow-up with, and collection of commissions from the lenders.

 7. Expenses Payable by Mortgage Specialist

 7.1 The Mortgage Specialist shall maintain an office in their home from which to
 conduct business and be responsible for the payment of all expenses. Without
 restricting the generality of the foregoing, the Mortgage Specialist agrees to be
 responsible for the following expenses whenever incurred by or with the authority
 of the Mortgage Specialist: travel; entertainment; food; lodging; fuel; repair;
 maintenance and insurance of automobiles(including liability insurance);
 advertising; pagers; postage costs; all long distance telephone calls; all long
 distance fax charges; photocopying; credit reports; association fees; use of head
 office fees; annual fees payable by the Mortgage Specialist to maintaing his or
 her registration under the Act; extraordinary promotionsl expenses; fines or
 penalties (or both); business cards; promotional items (such as pens, calendars,
 newsletters, letterhead etc.,)’ courier fees; individual’s portion of the costs of
Errors and Omissions Insurance which may be effected in the sole discretion of
the Company.

7.2 All the forgoing expenses which are not paid directly by the Mortgage
Specialist are hereby specifically and expressly authorized by the Mortgage
Specialist to be withheld and deducted by the Company from any and all
commissions earned by and payable to the Mortgage Specialist.

8. Policies

8.1 The Mortgage Specialist shall adhere to company policies and procedures
set by the Company from time to time, a copy of which is available from the
Mortgage Broker on record for the time being in place. These policies are
subject to change without prior notice at the company’s sole option. All changes
shall be provided in writing to the Mortgage Specialist as soon as practicable
after any such change has been authorized by the Company.

9. Payments

9.1 The Mortgage Specialist shall have no authority to bind the Company in any
matter for anything unless expressly authorized to do so in advance and in
writing. Under no circumstances shall the Company be responsible for any
expense whatsoever incurred by the Mortgage Specialist in the actual or
purported performance of their duties. The Mortgage Specialist is not to be paid
directly by borrowers or lenders and all monies for Mortgage Services are to be
paid to the Company.

10. Indemnity

10.1 The Mortgage Specialist covenants and agrees that they will faithfully
discharge the Mortgage Specialist’s duties hereunder and will at all times
hereafter keep the Company indemnified against all losses, costs, damages,
expenses, penalties, fines, actions and causes of action, which the Company
may pay, sustain, or be put to be reason of any act, mismanagement,
embezzlement, neglect, misrepresentation, default, of or by the Mortgage

11. Withholding

11.1 The Mortgage Specialist agrees that the Company may withhold all
amounts payable to the Mortgage Specialist by the Company until it has funds in
its possession that would otherwise be payable to a maximum amount the
Company could be found to be liable to pay by reason of any anticipated loss,
cost, damage, expense, penalty or fine to or of the Company attributable to the
wrongful or negligent act or failure to act of the Mortgage Specialist. An example
would be the $ 2,500.00 deductible on Errors and Omissions Insurance that
fluctuates with the desired coverage arranged by the Company.
12. Set-off of Indebtedness

12.1 If and whenever pursuant to the terms of this agreement or otherwise the
Mortgage Specialist becomes liable to pay the Company any monies, then such
monies may be deducted by the Company from any monies that may be due and
wowing to the Mortgage Specialist.

13. Payments and Communication

13.1 All payments and communications which may be or are required to be given
by the Mortgage Specialist or the Company to the other of them, shall (in the
absence of any specific provision to the contrary) be in writing and delivered to
the Mortgage Specialist or the Company(as the case may be) at the principal
address of the Company(provided, in the case of the Mortgage Specialist, the
Company may instead if it deems it appropriate deliver or mail the same prepaid
registered mail to the last home address of the Mortgage Specialist apprearing in
the records of the Company). Any payment or communication so delivered, shall
be conclusively deemed to have been received at the time of delivery.

14. Term and Termination

14.1 Term

The term of this Agreement shall be twelve (12) months from the Effective Date
and shall automatically renew for additional twelve (12) month periods unless
terminated earlier as provided below.

14.2 Termination

The Mortgage Consultant may cancel this Agreement at any time on sixty (60)
days written notice. Consultant may terminate this agreement without (60) days
written notice if the Company fails to cure a default of a material obligation in this
Agreement within thirty (30) days of receiving written notice specifying such
default. The Company may terminate this agreement at any time and for any
reason without prior notice.

14.3 Effect of Termination

Upon termination of this Agreement for any reason, all rights and licenses
granted under this Agreement shall terminate, and Mortgage Specialist shall
immediately cease use of the Company Service and Licensed Marks. The
Company shall pay any amounts owed to the Mortgage Specialist within 30 days
of the effective date of termination. Any fees owing to the Mortgage Specialist
will be paid after a payment of commission by the lender.
15. Company Property

15.1Upon any termination of this agreement, the Mortgage Specialist will return
to the Company all supplies and sales literature, received at any time by the
Mortgage Specialist from the Company. The Mortgage Specialist agrees that if
they fail to return any such items, the Mortgage Specialist will pay forthwith to the
Company the value of such items as are not returned to the Company.

16. Debts

16.1 In the even the Mortgage Specialist is indebted to the Company, then the
amount is payable on demand, and until such debt has been repaid, the amount
outstanding from time to time shall bear interest at the rate of 21% per annum
compounded annually (twenty-one percent per annum compounded annually).

17. Survival of Sections

17.1 Sections 10.0 through 16.1 inclusive hereof and this section 17.1 shall
survive any termination of this agreement and shall enure to the benefit of and be
binding upon the parties hereto and their respective heirs executors,
administrators, successors and assigns.

18. Partial Invalidity

18.1 If any provision of this agreement or the application thereof to any person or
circumstance shall, to any extent, be invalid or unenforceable, the remainder of
the agreement, or the application of such provision or part thereof to persons or
circumstances other than those as to which it is held invalid and enforceable,
shall not be affected thereby and each provision of the agreement shall be valid
and enforced to the fullest extent permitted by law and be independent of every
other provision of this agreement.

19. Waiver of Default

19.1 The Company or the Mortgage Specialist may in its, their sole discretion
waive any default of the Mortgage Specialist or of the Company hereunder but no
such waiver shall extend to or be taken in any manner whatsoever to affect any
subsequent default or the rights resulting therefrom but rather shall apply only to
the particular default waived. Without restricting the generality of the foregoing, it
is agreed that no series of waivers by the Company or the Mortgage Specialist of
any series of defaults relating to the same obligation shall constitute a waiver of
any subsequent default of the same nature.

20. Warranty and Limitations

20.1 The Mortgage Specialist is not authorized to represent or act as an agent of
the Company, to bind, or represent the Company for any legally binding
contracts, borrowing agreements, purchase agreements, sale agreements, legal
actions brought to the Company or from the Company, loan agreements or other
agreements not acknowledged by an authorized officer of the Company in

20.2 Except as may be expressly provided in this Agreement, all services
provided by the Company hereunder are provided “as is” without any warranty
whatsoever. The Mortgage Specialist recognizes that the “as is” clause of this
agreement is an important part of the basis of this agreement, without which the
Company would not have agreed to enter into this agreement. The Company
expressly disclaims all other warranties, terms or conditions, express, implied,
statutory, regarding the services, including any warranties of merchantability,
title, fitness for particular purpose and infringement. No representation or other
affirmation of fact, regarding the services shall be deemed a warranty for any
purpose or give rise to any liability of the Company whatsoever. The Mortgage
Specialist acknowledges that it has relied on no warranties other than that
express warranty in agreement.

21. Remedies, Assignments, Entirety of Agreement

21. 1 All rights and remedies conferred in this agreement or at law or in equity or
by statute are cumulative and may be exercised independently or in combination.

21.2 The agreement is personal to the Mortgage Specialist and no rights or
obligations of the Mortgage Specialist hereunder shall be assigned. The
Company may assign its rights and obligation hereunder to any successor to the
business of the Company of any part thereof, whereupon the Company shall be
relieved of all obligations hereunder arising subsequesnt to the date of such

21.3 This agreement constitutes the entire agreement between the Company and
the Mortgage Specialist relative to the retention of the services of the Mortgage
Specialist by the Company and supersedes all understanding and prior
agreements in that regard. It may not be changed orally but only by an
agreement in writing.

23. General Provisions.

23.1 If the performance of this Agreement is prevented, restricted or interfered
with by but not limited to: fire or other casualty or accident, strikes or labor
disputes, any law, order, proclamation, regulations, ordinance, demand or
requirement of any government agency, non payment of brokerage fees to the
Company, or any other similar act or condition beyond the reasonable control of
the parties hereto, the party so affected will, upon giving prompt notice to the
other party, be excused from such performance during such prevention,
restriction or interference. Each party agrees to comply with all applicable
Canadian or United States Federal, Provincial or State and local laws and
regulations in the performance of its respective obligations under this Agreement.
This Agreement shall be governed by the laws of the Province of Ontario as
applied to agreements made, entered into and performed entirely in Ontario
between Ontario residents. No waiver of any term or condition of this Agreement
will be valid or binding on a party unless the same has been mutually assented to
in writing by both parties. The terms and conditions contained in this Agreement
constitute the entire agreement between the parties with respect to the subject
matter thereof and supersede all previous agreements and understandings,
whether oral or written. Except as expressly set forth herein, no party may
assign or delegate this Agreement or any of its rights or duties under this
Agreement without the prior written consent of the other party hereto, which
consent will not be unreasonably withheld; provided, however, that either party,
without the consent of the other party, may assign or delegate its rights or
obligations under this agreement to any person or entity that acquires or
succeeds to all or substantially all of its business or assets.

In witness whereof the parties hereto have signed and sealed this agreement the
___________ day of ______________, 20___.

Signed, Sealed and Delivered
In the presence of

_________________________) __________________________ .
                          ) Mortgage Specialist

                          ) C.M.B. Canada Mortgage Brokers Inc.
_________________________) By: ________________________.
                          )    per. Mortgage Broker

The Mortgage Specialist is entitled to receive from the Company in respect of
each mortgage transaction which the Mortgage Specialist has been instrumental
in originating, and for which commissions are subsequently received by C.M.B.
Canada Mortgage Brokers Inc. (“funded transactions”), a commission calculated
as follows;

a) On Company Assisted Business:

_________% of Net Commission to Company

b) On Non-Company Assisted Business:

_________% of Net Commission to Company

For the purposes of this page, the expression ”Company Assisted Business”
means funded transactions that were managed or coached by an internal
underwriter at the Company. “Non-Company Assisted Business” means funded
transactions completed entirely by the Mortgage Specialist. Commissions on
commercial mortgages and difficult to approve residential mortgages are
negotiated between the Company and the Mortgage Specialist on a per case
basis, only in the case when the Mortgage Specialist needs Company assistance
to underwrite or fund the transactions.
Void Cheque
Direct deposit every 2 weeks, less any deductions for expenses

Business Card Information:
Price $ 60.00 for 500 cards, make cheque payable to CMB Canada Mortgage
Brokers Inc.

Name: ________________________

Tel. __________________________

Cell. _______________________

Fax. __________________________

e-mail: ________________________

Website: (default)

Address: 365 Healey Road Unit 20 Bolton, Ontario L7E 5C1 (default)

Office Tel. 416.410.1315 (default)

Address: Use default ____      Do not use Default ____(use address below)

Your address______________________________________________________

Website: __________________________________________

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